[The following Information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. Accounts receivable Percent uncollectible Total $ 595,000 0 $ 401,000 1 to 30 $ 95,000 Days Past Due 31 to 60 $ 41,000 61 to 90 $ 23,000 Over 90 38 48 78 98 $ 35,000 128 a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $4,100 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $600 debit. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Accounts Receivable X Percent Uncollectible (%) Estimated Uncollectible Not due: X 1 to 30: 31 to 60: 61 to 90: X X Over 90: Estimated balance of allowance for uncollectibles
[The following Information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. Accounts receivable Percent uncollectible Total $ 595,000 0 $ 401,000 1 to 30 $ 95,000 Days Past Due 31 to 60 $ 41,000 61 to 90 $ 23,000 Over 90 38 48 78 98 $ 35,000 128 a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $4,100 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $600 debit. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Accounts Receivable X Percent Uncollectible (%) Estimated Uncollectible Not due: X 1 to 30: 31 to 60: 61 to 90: X X Over 90: Estimated balance of allowance for uncollectibles
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
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Provide both graphs
![[The following Information applies to the questions displayed below.]
Daley Company prepared the following aging of receivables analysis at December 31.
Accounts receivable
Percent uncollectible
Total
$ 595,000
0
$ 401,000
1 to 30
$ 95,000
Days Past Due
31 to 60
$ 41,000
61 to 90
$ 23,000
Over 90
38
48
78
98
$ 35,000
128
a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts
receivable.
b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the
Allowance for Doubtful Accounts is a $4,100 credit.
c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the
Allowance for Doubtful Accounts is a $600 debit.
Complete this question by entering your answers in the tabs below.
Req A
Req B and C
Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts
receivable.
Accounts
Receivable
X
Percent
Uncollectible (%)
Estimated
Uncollectible
Not due:
X
1 to 30:
31 to 60:
61 to 90:
X
X
Over 90:
Estimated balance of allowance for uncollectibles](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2726b86c-9401-4962-91ce-c5e401005271%2F2e74dd09-73e3-4f4b-b3db-6ee34217284e%2Fs5rjew_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[The following Information applies to the questions displayed below.]
Daley Company prepared the following aging of receivables analysis at December 31.
Accounts receivable
Percent uncollectible
Total
$ 595,000
0
$ 401,000
1 to 30
$ 95,000
Days Past Due
31 to 60
$ 41,000
61 to 90
$ 23,000
Over 90
38
48
78
98
$ 35,000
128
a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts
receivable.
b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the
Allowance for Doubtful Accounts is a $4,100 credit.
c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the
Allowance for Doubtful Accounts is a $600 debit.
Complete this question by entering your answers in the tabs below.
Req A
Req B and C
Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts
receivable.
Accounts
Receivable
X
Percent
Uncollectible (%)
Estimated
Uncollectible
Not due:
X
1 to 30:
31 to 60:
61 to 90:
X
X
Over 90:
Estimated balance of allowance for uncollectibles
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